Structured finance

Amundi Physical Metals plc: Final Terms

Retrieved on: 
Friday, July 30, 2021
Financial markets, Security, Stock market, Finance, Financial law, Fixed-income securities, Structured finance

The ETC Securities are designed to provide purchasers with exposure to Gold without having to take physical delivery of the Gold.

Key Points: 
  • The ETC Securities are designed to provide purchasers with exposure to Gold without having to take physical delivery of the Gold.
  • Each ETC Security relates to a specific amount in weight of Gold, specified in the Final Terms, known as the "Metal Entitlement".
  • Payment of any Early Redemption Amount or the Final Redemption Amount is subject at all times to the limited recourse provisions.
  • Any early or final redemption of the ETC Securities of a Series will be settled in cash.

Amundi Physical Metals plc: Final Terms

Retrieved on: 
Friday, July 30, 2021
Financial markets, Security, Stock market, Finance, Financial law, Fixed-income securities, Structured finance

The ETC Securities are designed to provide purchasers with exposure to Gold without having to take physical delivery of the Gold.

Key Points: 
  • The ETC Securities are designed to provide purchasers with exposure to Gold without having to take physical delivery of the Gold.
  • Each ETC Security relates to a specific amount in weight of Gold, specified in the Final Terms, known as the "Metal Entitlement".
  • Payment of any Early Redemption Amount or the Final Redemption Amount is subject at all times to the limited recourse provisions.
  • Any early or final redemption of the ETC Securities of a Series will be settled in cash.

KBRA Releases Research – CMBS Loan Performance Trends: July 2021

Retrieved on: 
Friday, July 30, 2021
Banking, Professional services, Finance, Finance, Money, Mortgage, Structured finance, Financial services, United States housing bubble, Commercial mortgage-backed security, Loan servicing, Mortgage-backed security, Commercial mortgage, Capital Services Group, Primary servicer

Kroll Bond Rating Agency (KBRA) releases a report on U.S. commercial mortgage-backed securities (CMBS) loan performance trends observed in the July 2021 servicer reporting period.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a report on U.S. commercial mortgage-backed securities (CMBS) loan performance trends observed in the July 2021 servicer reporting period.
  • This month, KBRA also analyzed the special servicing and modification activity of CMBS 2.0 loans outstanding at the start of the pandemic.
  • From April 2020 to June 2021, 1,383 (7.1%) loans transferred to special servicing, totaling $49.5 billion (11.1%).
  • Of these, 28.6% by loan count and 34.6% by balance have transferred back to the master servicer.

KBRA Analytics Releases 12 Things in Credit: July 2021

Retrieved on: 
Thursday, July 29, 2021
Professional services, Finance, Articles, Credit rating agency, Analytics, KBRA, Structured finance

KBRA Analytics releases topical and timely commentary on credit markets, compiled from our weekly podcast, 3 Things in Credit, hosted by our Chief Strategist, Van Hesser.

Key Points: 
  • KBRA Analytics releases topical and timely commentary on credit markets, compiled from our weekly podcast, 3 Things in Credit, hosted by our Chief Strategist, Van Hesser.
  • The pandemic has dramatically reset the global economic and markets landscape as massive government intervention and fluid developments on the scientific front meet extreme valuations in markets.
  • Each week, we dig into and provide perspective on issues credit-market participants care about.
  • KBRA is a full-service credit rating agency registered in the U.S., the EU and the UK, and is designated to provide structured finance ratings in Canada.

KBRA Assigns Preliminary Ratings to U.S. Auto Funding Trust 2021-1

Retrieved on: 
Thursday, July 29, 2021
Banking, Professional services, Finance, Finance, Money, Economy, Structured finance, United States housing bubble, Credit, Credit enhancement, Fixed income, Securitization, Credit rating agency

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes issued by U.S. Auto Funding Trust 2021-1 (USAUT 2021-1), a subprime auto loan ABS transaction.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to five classes of notes issued by U.S. Auto Funding Trust 2021-1 (USAUT 2021-1), a subprime auto loan ABS transaction.
  • Credit enhancement consists of excess spread, overcollateralization, subordination (except for the Class E Notes) and a reserve account funded at closing.
  • USAUT 2021-1 represents the first ABS securitization in 2021 for U.S. Auto Finance, Inc. (U.S. Auto or the Company) and their third rated term ABS securitization since inception.
  • KBRA considered its operational review of U.S. Auto, as well as periodic update calls with the Company.

4D pharma Announces $30 Million Credit Facility with Oxford Finance

Retrieved on: 
Thursday, July 29, 2021
Professional services, Health, Finance, Clinical trials, Pharmaceutical, Banking, Biotechnology, Structured finance, Fixed-income securities, Finance, Tranche, Money

The credit facility from Oxford Finance provides access to additional capital strengthening our financial position and increasing our financial flexibility as we continue to advance our programs to bring first-in-class Live Biotherapeutics to market, said Duncan Peyton, CEO of 4D pharma.

Key Points: 
  • The credit facility from Oxford Finance provides access to additional capital strengthening our financial position and increasing our financial flexibility as we continue to advance our programs to bring first-in-class Live Biotherapeutics to market, said Duncan Peyton, CEO of 4D pharma.
  • Oxford Finance is pleased to support 4D pharma as it continues to progress its pipeline of innovative Live Biotherapeutics.
  • This financing provides 4D pharma with up to $30 million of cash in three tranches: an initial tranche of $12.5 million at closing, with the remaining $7.5 million and $10 million tranches dependent on the achievement of certain milestones.
  • In recent years, Oxford has originated over $7 billion in loans, with lines of credit ranging from $5 million to $150 million.

BioVaxys Closes Final Tranche Of Non-Brokered Private Placement

Retrieved on: 
Thursday, July 29, 2021
Fixed-income securities, Structured finance, Tranche

VANCOUVER, BC, July 28, 2021 /PRNewswire/ --BioVaxys Technology Corp. (CSE: BIOV, FRA:5LB, OTCQB:BVAXF) ("BioVaxys" or the "Company") is pleased to announce that it has closed the second and final tranche of its previously announced non-brokered private placement (the "Private Placement").

Key Points: 
  • VANCOUVER, BC, July 28, 2021 /PRNewswire/ --BioVaxys Technology Corp. (CSE: BIOV, FRA:5LB, OTCQB:BVAXF) ("BioVaxys" or the "Company") is pleased to announce that it has closed the second and final tranche of its previously announced non-brokered private placement (the "Private Placement").
  • Under the final tranche (the "Final Tranche") of the Private Placement, the Company issued 5,349,455 units ("Units") at a price of $0.22 per Unit for total gross proceeds of approximately $1,176,880.
  • Including the first tranche of the Private Placement which completed on July 14, 2021, the Company raised total aggregate gross proceeds of $2,015,555.
  • The Company intends to use the net proceeds of the Private Placement to advance its research and development programs and for working capital.

KBRA Assigns Preliminary Ratings to Benchmark 2021-B28

Retrieved on: 
Wednesday, July 28, 2021
Professional services, Finance, Finance, Money, Financial markets, Mortgage-backed security, Structured finance, Fixed-income securities, Mortgage, Commercial mortgage-backed security, Commercial mortgage, KBRA, Mortgage loan, Capitalization rate

Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 19 classes of Benchmark 2021-B28, a $1.4 billion CMBS conduit transaction collateralized by 71 commercial mortgage loans secured by 131 properties.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) is pleased to announce the assignment of preliminary ratings to 19 classes of Benchmark 2021-B28, a $1.4 billion CMBS conduit transaction collateralized by 71 commercial mortgage loans secured by 131 properties.
  • The collateral properties are located throughout 30 MSAs, of which the three largest are New York (31.3%), Miami (5.3%), and Chicago (4.7%).
  • The pool has exposure to most major property types, with two types representing more than 15.0% of the pool balance: office (40.7%) and retail (24.3%).
  • KBRA capitalization rates were applied to each assets KNCF to derive values that were, on an aggregate basis, 42.8% less than third party appraisal values.

Blackstone Mortgage Trust Reports Second Quarter 2021 Results

Retrieved on: 
Wednesday, July 28, 2021
REIT, Finance, Professional services, Commercial Building & Real Estate, Construction & Property, Finance, United States housing bubble, Money, Loans, Mortgage loan, Financial services, Mortgage-backed security, Structured finance, Mortgage, The Blackstone Group, Secondary mortgage market, Blackstone Mortgage Trust, Blackstone, BLACKSTONE MORTGAGE TRUST, BLACKSTONE

Blackstone Mortgage Trust, Inc. (NYSE:BXMT) today reported its second quarter 2021 results.

Key Points: 
  • Blackstone Mortgage Trust, Inc. (NYSE:BXMT) today reported its second quarter 2021 results.
  • Blackstone Mortgage Trust issued a full presentation of its second quarter 2021 results, which can be viewed at www.bxmt.com .
  • Blackstone Mortgage Trust (NYSE:BXMT) is a real estate finance company that originates senior loans collateralized by commercial real estate in North America, Europe, and Australia.
  • Blackstone Mortgage Trust assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events or circumstances.

Amundi Physical Metals plc: Final Terms

Retrieved on: 
Wednesday, July 28, 2021
Financial markets, Security, Stock market, Finance, Financial law, Fixed-income securities, Structured finance

The ETC Securities are designed to provide purchasers with exposure to Gold without having to take physical delivery of the Gold.

Key Points: 
  • The ETC Securities are designed to provide purchasers with exposure to Gold without having to take physical delivery of the Gold.
  • Each ETC Security relates to a specific amount in weight of Gold, specified in the Final Terms, known as the "Metal Entitlement".
  • Payment of any Early Redemption Amount or the Final Redemption Amount is subject at all times to the limited recourse provisions.
  • Any early or final redemption of the ETC Securities of a Series will be settled in cash.